Division of Assets. Property belonging to the parties on the date of marriage shall remain their separate property. The parties acknowledge that they have acquired or maintained various items of personal and intangible property during the course of their marriage which has been equitably distributed between them. Each party shall retain ownership and possession of the personal property items in their separate possession and shall assume the debt against those personal property items. The equitable division of the assets and liabilities is as follows: HUSBAND - ASSETS Description Value
Division of Assets. We divide our assets (everything we own and that is owed to us) as follows: Any personal item(s) not listed below is the property of the party currently in possession of the item(s).
Division of Assets. Upon dissolution and after payment in full of all outstanding Bonds and other Commission obligations, the Governing Board shall equitably disburse the assets of the Commission to the then current Members. After deducting costs, any cash or other assets jointly shared shall be disbursed, or interests deeded, pro rata.
Division of Assets. Each party shall receive any and all, tangible and intangible, property in his/her possession including personal items and household goods, unless stated otherwise in this agreement.
Division of Assets. (1) If the RRC is to be wound up and there remains, after satisfaction of all its debts and liabilities, any property and assets of the RRC then the property and assets are to be realised and -
Division of Assets. Subject to necessary regulatory approvals and implementation, CRR's routes ("Routes"), assets in proximity to such Routes ("Assets Related to the Routes") and certain facilities (the "Facilities") will be divided and made available to CSX and NSC, and where indicated CSX and NSC will have Joint Use/Shared Access relating to "Shared Assets" (as defined below), all as specified in the map and the schedules thereto which are attached as part of Exhibit A (it being understood that the portion of Exhibit A entitled "Conrail Line Allocation" is not intended to represent the precise cutpoints of Routes, which will be determined in connection with the negotiation of the Definitive Documentation based on operational practicalities, but rather is intended to be descriptive of the line segments agreed to by the parties in Exhibit A). Pursuant to this division, except as provided more specifically hereafter or more fully explained herein, following the implementation date of this division, (i) NSC will acquire use of and responsibility for the management and costs (including lease costs, if any) of the Altoona and Hollidaysburg shops, and (ii) CSX will acquire use of and responsibility for the management and costs (including lease costs) of the CRR headquarters building and the CRR information technology facilities in Philadelphia; provided that to the extent that a Facility referred to in (i) or (ii) immediately prior to such implementation date was operated by CRR for the benefit of the CRR system as a whole, the party to which such Facility is allocated will accommodate the needs of the other party for a transition period following such implementation date, as will be provided in the Definitive Documentation. 6 Notwithstanding (i) and (ii) above, CSX and NSC will jointly use and have responsibility for the following ("System Support Operations"): the customer service center in Pittsburgh; the crew management facility in Dearborn; the system maintenance-of-way equipment center in Canton; the signal repair center in Columbus; and the management of a portion of CRR headquarters function and management at System Support Operations sufficient for the management of the Surviving Corporation ("Continuing Conrail Management"). The Continuing Conrail Management will be comprised of those employees of CRR selected by both CSX and NSC to operate the Surviving Corporation (including the System Support Operations). The costs of Continuing Conrail Management and of operating the...
Division of Assets. (1) If the MRC is to be wound up and there remains, after satisfaction of all its debts and liabilities, any property and assets of the MRC then the property and assets shall be realised and:
Division of Assets. Effective June 1, 2005 (the "Separation Date"), the assets of CityFed and Services will be divided such that Services will have assets approximately equal to $5,083,000. The parties agree that Services currently has real estate-related assets with a deemed value of approximately $4,732,000 as shown on the attached Exhibit A and cash in an amount equal to $414,000. CFF Services agrees to transfer $63,000 to CityFed so that the total of Services assets will equal approximately $5,083,000. CityFed will be entitled to retain all of its remaining assets, including the cash transferred from Services, its own cash and all investment securities.
Division of Assets. Upon termination, the Parties shall immediately dissolve the Partnership and liquidate all assets of the Partnership. To the extent permitted by law, the proceeds from the liquidation of the assets and any remaining assets of the Partnership shall be distributed as follows: (a) the expenses of liquidation (including the expenses of the Parties after the date of dissolution, and legal and accounting fees and expenses reasonably incurred in connection with the liquidation) and the debts of the Partnership other than debts to Parties or any affiliated entities shall first be paid; (b) such debts, if any, as are duly owing to the Parties or their affiliated entities shall next be paid; and (c) the balance, if any, shall be distributed to the Partners in accordance with their capital accounts and so as to satisfy the requirements of the "substantial economic effect" test for tax purposes. Immediately upon termination and without any further act or deed, the license by Incineco to the Partnership of the L-B Equipment (including all Technology related hereto) and all other property otherwise licensed to the Partnership at any time prior to the liquidation of the Partnership, shall terminate insofar as said license relates to Projects commencing after the liquidation of the Partnership; provided, however, that this termination shall have no effect whatsoever upon the rights of the Partnership or the Parties, or any sublicensee thereof, with respect to Projects commenced during the term of the Partnership, all of which rights shall remain valid and enforceable as if the said license had continued in full force and effect. For purposes of the Agreement, all property (including rights thereto) transferred to the Partnership, except for the initial cash contributions provided for in Section 3.1 of this Agreement, shall be deemed as being licensed to the Partnership for purposes of this Section and the rights of Incineco to such property upon termination and liquidation shall be as provided in the preceding sentence. In addition, upon termination, the Partnership shall distribute to both Parties a joint and several interest in and to all patents and Technology jointly developed with respect to the L-B Equipment during the term of this Agreement; future use by or sublicensing of said patents or Technology by either Party will be subject to a licensing agreement and fee to be negotiated by the Parties in good faith.
Division of Assets. (a) Subject to clause 16.2(b), if a Project is to be wound up and there remains, after satisfaction of all its debts and liabilities, any property and assets of the Project, then the property and assets must be realised and the proceeds along with any surplus funds must be divided among the Project Participants in the proportions referred to in the Business Case.
